Thanks Rob, I've copied it below for convenience to all.
AIMRITE HOLDINGS APPROVES 5 & 7 YEAR EXCLUSIVITY WITH MAJOR OEM VEHICLE MANUFACTURER
July 8, 1998
SAN DIEGO--(BUSINESS WIRE)--July 8, 1998--The Board of Directors of AimRite Holdings Corporation has approved a 5 year exclusivity on one vehicle model and 7 years on another with a major OEM vehicle manufacturer. This exclusivity agreement covers two vehicle applications out of several that may be targeted for the COAST suspension control system. These exclusivity agreements were requested by the OEM manufacturer as part of a package program that they proposed. The board considered that the exclusivity would not compromise AimRite's other OEM customers. In addition, the OEM manufacturer is contributing toward the application of the COAST suspension control system to their vehicles.
Preparation for production is proceeding on schedule. The first production COAST suspension control unit will be completed this week. Photos of the production unit will be taken next week for inclusion into product sales literature now being prepared. Dr. Ken Coleman, President of AimRite, stated that agreements have been negotiated and signed with companies that will manufacture the COAST suspension control system, including both the hardware and electronics. In addition, new patent applications are being prepared that, when combined with existing patents, will thoroughly protect the COAST suspension control system, including its revolutionary proprietary algorithms and hydraulic and air suspension control systems.
The COAST(TM) (Computer Optimized Adaptive Suspension Technology) suspension system uses Variable Constant Force(TM) to dramatically improve vehicle stability, ride comfort and performance for virtually all automotive applications.
AIMRITE HAS A WEBSITE THAT CAN BE VISITED AT WWW.AIMRITE.COM.
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IMHO, this must big a BIG dollar deal, or AIMH would not have gone for an exclusive clause.
Regards, Dave |
